UK-based supermajors Shell and BP are seeking U.S. licenses to develop gas fields that Trinidad and Tobago shares with Venezuela, the Caribbean island’s Energy Minister Roodal Moonilal said on Wednesday. BP and Shell have sought to develop two separate cross-border gas fields in Venezuelan and Trinidad and Tobago waters, but progress has been slow in recent years due to the frequent changes in U.S. policy toward allowing international firms to do business with Venezuela. In July 2024, BP, together with its partner, the National Gas Company…

UK-based supermajors Shell and BP are seeking U.S. licenses to develop gas fields that Trinidad and Tobago shares with Venezuela, the Caribbean island’s Energy Minister Roodal Moonilal said on Wednesday. BP and Shell have sought to develop two separate cross-border gas fields in Venezuelan and Trinidad and Tobago waters, but progress has been slow in recent years due to the frequent changes in U.S. policy toward allowing international firms to do business with Venezuela. In July 2024, BP, together with its partner, the National Gas Company…

UK-based supermajors Shell and BP are seeking U.S. licenses to develop gas fields that Trinidad and Tobago shares with Venezuela, the Caribbean island’s Energy Minister Roodal Moonilal said on Wednesday. BP and Shell have sought to develop two separate cross-border gas fields in Venezuelan and Trinidad and Tobago waters, but progress has been slow in recent years due to the frequent changes in U.S. policy toward allowing international firms to do business with Venezuela. In July 2024, BP, together with its partner, the National Gas Company…

A US aircraft carrier group arrived in the Middle East on January 27 as tensions mount over a possible strike against Iran after a brutal crackdown on protests that rights groups say killed thousands of people. Amid the turmoil, the Iranian currency, the rial, fell to a record low against the dollar, trading at 1.5 million on January 27. US President Donald Trump has said he "hopes" military action against Tehran won't be needed, but he has also sent an "armada" to the region while refusing to take the option of air strikes off of the table in…

India needs liquefied natural gas prices in Asia to nearly halve in order to significantly raise LNG imports and consumption, the top executive of the biggest Indian LNG importer said on Wednesday. Asia’s spot LNG price is about $11 per million British thermal units (MMBtu) at present, while a major demand boost in India would come at prices between $6 and $7 per MMBtu, Akshay Kumar Singh, chief executive at Petronet Ltd, said at the India Energy Week conference, as carried by Bloomberg. India is expected to import about 29 million tons of…